"The National Hockey League deeply regrets having to take this action. By presenting a proposal to the NHLPA that contemplated a fair division of revenues and was responsive to Player concerns regarding the value of their contracts, we had hoped to be able to forge a long-term Collective Bargaining Agreement that would have preserved an 82-game Regular Season for our fans. Unfortunately, that did not occur.

“We acknowledge and accept that there is joint responsibility in collective bargaining and, though we are profoundly disappointed that a new agreement has not been attained to this point, we remain committed to achieving an agreement that is fair for the Players and the Clubs -- one that will be good for the game and our fans."